The day's market - February 22, 2007

The market was down from the opening bell. It continued its downtrend which started at the latter part of yesterday's trading after hitting the resistance levels at 3400 -3420. The weaker peso also somehow toned down the sentiment

PSEi Previous close 3378.92 (February 21, 2007)

time----------------down--------------------PSEi
9:30-----------------9.86-------------------3369.06
9:35-----------------11.31
9:35------------------------PhP 48.226 to $ 1.00
9:48-----------------12.07
9:56-----------------14.09
9:59-----------------15.98
10:07----------------11.44
10:10----------------13.29
10:11----------------14.29
10:13----------------15.58
10:13----------------------PhP 48.228 to $1.00
10:17----------------17.34
10:22----------------13.26
10:31----------------17.08
10:48----------------18.80
10:50----------------19.87
10:50----------------------PhP 48.242 to $ 1.00
10:54-----------------20.53
11:04-----------------23.39
11:12-----------------19.69
11:16-----------------23.74----------------3355.18

The market seems to be holding at upper range of the next support at 3320 -3350.
It moves in a narrow range in the next 20 minutes before bottoming out.

11:18-----------------19.84
11:24-----------------18.30
11:26-----------------21.34
11:27-----------------19.62
11:31-----------------17.83
11:32-----------------19.99
11:34-----------------20.28
11:37----------------------PhP 48.245 to $ 1.00
11:39-----------------25.59----------------3353.33

The market hits the day's bottom as bargain hunters stepped in to cut market losses.

11:47-----------------23.53
11:49-----------------21.84
11:58-----------------16.50
11:59-----------------12.34
12:01-----------------13.39---------------3365.53
Market Close.

Secoral Indices were mosly lower.
Holdings -1.29%
Financial -0.84%
Industrial -0.80%
Services - 0.07%
Property +1.08%
M-O +4.24%

Valuue turnover was lower at PhP 4.129 billion
Gainers however edged out Decliners 63 to 62.

The Market is now on another corrective / consolidation phase. But the activity on the second and thirdliners provide trading opportunity and keeps investors in the market.